People
Policy
Economy Types
General Terms
Groups
100
Father of the American economy.
Who is Alexander Hamilton?
100
often tied to Keynesian economics, uses government spending and taxes to guide the economy.
What is Fiscal Policy?
100
a political theory derived from Karl Marx, advocating class war and leading to a society in which all property is publicly owned and each person works and is paid according to their abilities and needs.
What is Communism?
100
rise in prices for consumer goods (dollar loses its value) Consumer price index- measures change in cost of buying goods and services
What is Inflation?
100
an organization of workers intended to engage in collective bargaining
What is Labor Union?
200
Democratic President who formulated the New Deal
Who is FDR?
200
controls the value of currency by lowering the supply of money to control inflation and raising it to stimulate economic growth. It is concerned with the amount of money in circulation and, consequently, interest rates and inflation.
What is Monetary Policy?
200
an economic system in which individuals and corporations own the principals of production and seek profits. America was first to use.
What is Capitalism?
200
legal minimum hourly federal wage $7.25 (case studies)
What is Minimum Wage?
200
meets eight times a year in Washington (sets federal funds rate, interest rate for overnight loans between banks, purchases or sells government bonds from banks, determine how much money banks have to lend out)
What is Federal Open Market Committee?
300
Republican who increased spending on war and largely increased the US economy during the 20th century.
Who is Ronald Raegan?
300
principle that government should not meddle in the economy
What is Laissez-faire?
300
economic ideology that advocates for state ownership of the means of production
What is Socialism?
300
businesses with vast holdings in many countries (annual budgets) Disney, Coca Cola, Microsoft, Wal-Mart
What is Multinational Corporations?
300
regulates the stock market
What is the SEC?
400
The British economist who is founder of modern macroeconomics and overturned neoclassical economics with his policy of state intervention.
Who is John Maynard Keynes?
400
which refers to tariffs, trade agreements and the international institutions that govern them.
What is Trade Policy?
400
government is deeply involved in economic decisions through role as regulator, consumer, subsidizer, taxer, employer, and borrower.
What is Mixed Economy?
400
labor unions engage in this type of agreement about wages and working conditions with their employers under rules controlled by National Labor Relations Board
What is Collective Bargaining?
400
International organization that regulates international trade
What is the WTO?
500
Current Head of the Federal Reserve of the United States.
Who is Janet Yellen?
500
economic policy of shielding an economy from imports
What is protectionism?
500
is an economy in which decisions regarding investment, production and distribution are based on supply and demand, and prices of goods and services are determined in a free price system
What is Market Economy?
500
percentage of labor force actively seeking employment
What is Unemployment Rate?
500
appointed by President and confirmed by the Senate (14 year terms)
What is the 7 member of Board of Governors?
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